Trans Canada Capital Inc. Purchases New Stake in Kellanova (NYSE:K)

Trans Canada Capital Inc. acquired a new position in shares of Kellanova (NYSE:K) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 30,000 shares of the company’s stock, valued at approximately $2,429,000. Kellanova makes up 0.3% of Trans Canada Capital Inc.’s portfolio, making the stock its 11th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Independent Advisor Alliance increased its stake in Kellanova by 16.5% during the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after purchasing an additional 1,019 shares during the last quarter. Toronto Dominion Bank raised its stake in Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after acquiring an additional 8,686 shares during the period. Wedmont Private Capital acquired a new stake in Kellanova during the fourth quarter worth about $384,000. Barclays PLC lifted its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. Finally, Alpine Associates Management Inc. boosted its stake in Kellanova by 93.5% in the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company’s stock valued at $49,622,000 after acquiring an additional 296,150 shares during the period. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of K opened at $82.43 on Tuesday. The firm has a market capitalization of $28.46 billion, a PE ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm has a 50-day moving average price of $82.25 and a 200 day moving average price of $81.36. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Wall Street Analysts Forecast Growth

K has been the topic of several recent research reports. StockNews.com began coverage on Kellanova in a report on Friday. They issued a “hold” rating on the stock. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average target price of $77.96.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $81.42, for a total value of $9,329,347.86. Following the transaction, the insider now owns 48,534,944 shares of the company’s stock, valued at $3,951,715,140.48. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 1,260,413 shares of company stock valued at $103,473,032. Corporate insiders own 1.80% of the company’s stock.

About Kellanova

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.